Thanks for the replies. The actual rent is $650 a month. I factored in plausible electricity and gas, which would bring it to about $800 a month total. The massive bank of windows provides fantastic lighting, which is particularly appealing to me for a woodworking space and is fairly unique compared with white wall spaces I've been seeing in my searches. I've been looking for spaces near the water, not Bushwick, for a while now and one must keep in mind that this is Brooklyn, not Florida or anywhere else for that matter, real estate prices have to be compared apples to apples.
If you live in this area, $400 a month for private access to an outfitted woodworking space is entirely reasonable in my opinion. Please contact me if interested.